About PAR Technology

PAR Technology Corporation (PAR), through its subsidiaries, operates in Restaurant/Retail and Government segments. The company's subsidiaries include ParTech, Inc. (ParTech) and PAR Government Systems Corporation (PAR Government). Restaurant/Retail segment This segment provides leading omnichannel cloud-based software and hardware solutions to the restaurant and retail industries. The company's product and service offerings include point-of-sale, customer engagement and loyalty, digital ordering and delivery, operational intelligence technologies, payment processing, hardware, and related technologies, solutions, and services. The company's omnichannel solutions are used by more than 700 restaurant customers and can be found in more than 70,000 active restaurant locations. The company provides enterprise restaurants, franchisees, and other restaurant outlets in the three major restaurant categories - quick service, fast casual, and table service - with operational efficiencies through a data-driven network with integration capabilities from point-of-sale to the kitchen, to fulfillment. The company continuously strives to enhance and expand its omnichannel solutions to provide full integration of data points that drive guest satisfaction and operational efficiencies for restaurant enterprises across its offerings. Products and Services Subscription Services The company's subscription services consist of software-as-a-service (SaaS) solutions, related software support, and transaction-based payment processing services, and are grouped into three categories: Guest Engagement, Offering Customer Facing Solutions PUNCHH, an enterprise-grade customer loyalty and engagement solution that enables customers to deliver personalized promotions to their customers to increase customer lifetime value and same-store sales. Punchh seamlessly integrates with the company's customers' existing systems, providing AI-powered tools to deliver omnichannel loyalty experiences and campaigns to engage their customers, create real-time 360-degree insights and drive repeat purchases and higher average spend. MENU, an eCommerce platform for global restaurant brands, powering all digital customer touchpoints from mobile, web, kiosk to delivery marketplaces. MENU provides restaurant brands with the tools they need to grow their digital business, manage orders from all channels and for all order types, orchestrate their delivery operations, and fully control their digital experience to retain a direct customer relationship. Operator Solutions, Offering Front-Of-House Operator Solutions BRINK POS, an open cloud, point-of-sale solution that provides operators with tools to seamlessly integrate with multiple product offerings - including kiosks, kitchen video systems, and enterprise reporting - through PAR's ecosystem of integration partners. PAR PAYMENT SERVICES, the company's merchant services business that enables electronic payment and processing services for businesses of all sizes to accept electronic payments online or in-person. Par Pay is the front-end technology that reads payment cards and sends customer information to the merchant acquiring bank for processing. Combined, they offer a comprehensive payment processing solution that allows the company's customers to accept a variety of payments methods including debit and credit cards, near-field communication (NFC) contactless, mobile devices, digital wallets and gift cards. Back Office, Offering Back-Of-House Operator Solutions DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies to manage labor, food costs, and inventory, and perform enterprise reporting. Data Central provides customers with the necessary tools to achieve peak operational and financial efficiency; it serves as the central hub of restaurant intelligence by collecting information from point-of-sale, inventory, supply, payroll and accounting systems to provide actionable insights and a comprehensive view of a restaurant's operations. The company's SaaS solutions are extensible and built on open application programming interfaces (API) enabling integration by more than 500 integration partners, including leading industry brands, to extend the reach and capabilities of its SaaS solutions and those of its integration partners. Hardware The company's hardware offerings include point-of-sale terminals and tablets, wireless headsets, drive-thru systems, kitchen display systems, payment devices, and other in-store peripherals: Point-of-Sale Hardware: The company's POS hardware platforms are designed to reliably operate in harsh environments associated with food service. PAR hardware terminals - PAR WAVE, EVERSERV 600, and PAR PHASE - and tablets are durable and highly functioning, scalable, and easily integrated, offering customers competitive performance at a cost-conscious price. The company's open architecture POS platforms are optimized to support its SaaS solutions, as well as many third-party POS software applications, support a distributed processing environment and are suitable for a broad range of use and functions within the markets served. Wireless Communications, Drive-Thru Systems: The company's wireless headsets for drive-thru order-taking provide its customers with another means to deliver their products and serve their customers. The PAR G5 headset provides clear audio, all-day battery life, and an ergonomic fit. PAR's drive-thru timer systems provide crew and managers near-real-time feedback to improve speed of service and meet performance targets. In-Store Peripherals: The company partners with numerous vendors that offer in-store peripherals, including kitchen display systems, payment devices, cash drawers, and printers, allowing it to deliver a comprehensive and completely integrated hardware solution. Professional Services The company provides a comprehensive portfolio of support services to its customers, including hardware repair, installation and implementation, training, and on-site and technical support. Hardware Repair: The company offers depot repair, warranty, and overnight Advanced Exchange services from its offices in San Diego, California, Mississauga, Ontario, and its corporate headquarters in New Hartford, New York. Installation and implementation: The company offers hardware installation and software implementation services. Training: The company offers complete application training to customers' in-store staff and provide technical training to its customers' information systems personnel. On-Site and Technical Support: The company offers on-site support in the continental U.S. through its field tech service network, and 24-hour help desk support from its diagnostic service centers located in New Hartford, New York and Tampa, Florida. Outside of the continental U.S., the company provides its professional services either directly or through authorized providers. Markets and Distribution The company sells its products and services to enterprise restaurants, franchisees, and other restaurant outlets and to convenience stores and other retail customers, including amusement parks, movie theaters, cruise lines, spas, casinos, and other ticketing and entertainment venues through dedicated internal sales teams and channel partners. The company has longstanding relationships with several of the largest brands in the Restaurant/Retail segment, including as an approved provider of restaurant technology solutions and related support to McDonald's Corporation and its franchisees since 1980 and to Yum! Brands since 1983; these two brands represent 17% of its total revenue. Research and Development The company's research and development expenses were $58.4 million for the year ended December 31, 2023. Government segment PAR's Government segment provides technical expertise and development of advanced systems and software solutions for the U.S. Department of Defense (DoD), the intelligence community (IC) and other federal agencies. Additionally, the company provides support services for satellite command and control, communication, and information technology (IT) systems at several DoD facilities worldwide. The Government segment has three principal contract offerings: intelligence, surveillance, and reconnaissance solutions, mission systems operations and maintenance, and commercial software products for use in analytic and operational environments that leverage geospatial intelligence data. Intelligence, Surveillance, and Reconnaissance (ISR) PAR's ISR group provides a variety of IC support services, systems integration, situational awareness solutions, and mission readiness support. The company's core competencies reside in mobile geospatial applications; counter, small, unmanned aerial systems (C-sUAS); and data science offerings. The company's substantive, in-depth expertise in these domains enables it to provide government customers and industry partners with key technologies that support a variety of applications ranging from strategic enterprise systems to tactical in-the-field dismounted users. Additionally, the company provides integration, testing and operational readiness support in line with these competencies. PAR's ISR group also provides systems engineering support and software-based solutions to the DoD research and development laboratories, intelligence customers, and operational commands. The company's internal expertise ranges from theoretical and experimental studies to development and fielding of operational capabilities. The company's ISR group members are experienced developers and subject-matter experts in the DoD full motion video; developers of geospatial and imagery data management, visualization, and exploitation solutions; designers and developers of large-scale data science and multi-media analysis systems; leading the development of technologies to train and test artificial intelligence systems; designers of mobile, tactical situational awareness applications for Android, iOS, and Windows; architects and integrators of advanced C-sUAS systems-of-systems; builders of solutions for privacy, compliance and governance for sensitive customer data; and experienced in the development of live, virtual, constructive training for tactical operations. The company engages in the development of applications that support teams with real-time, tactical edge (mobile) situational awareness and distributed communications needs. PAR's ISR group has a strong legacy in the advanced research, development, and productization of geospatial information assurance technology involving steganography, steganography analysis, digital watermarking, and digital media forensics. These enabling technologies are used to provide increased protection and security of geospatial data and are increasingly applied to the identification of fabricated deep-fake media. PAR's ISR group integrates and tests a broad range of government and industry research and development solutions. The group is expanding through the development and implementation of C-sUAS systems in support of force protection efforts. Additionally, the company designs, integrates, and operates antenna data collection solutions for experimentation, demonstration, and test support. The company also provides technical engineering and analysis services to intelligence community customers, supporting development and deployment of advanced prototypes and quick reaction systems, including applications for high performance computing platforms (e.g., Cray exascale computers). Mission Systems (MS) PAR's MS group provides a wide range of technical and operational services to sustain mission critical components of the DoD's Information Network (DoDIN). These services include continuous satellite and teleport facility operations and maintenance, engineering and installation services including inside and outside plant services, and maintenance of infrastructure and information systems for very low, low, high, and very high frequencies, and ground-based radio transmitter/receiver facilities, including high tower antennas up to 1200 feet. The company operates and maintains satellite communications and teleport facilities with ultra-high, super high, and extremely high frequency satellite communication earth terminals, and support telecommunications architectures such as fixed submarine broadcast systems and high frequency global communications systems. The DoD communications earth stations operated by PAR Government are the primary communications systems utilized by the national command authority and military services to exercise command and control of the nation's air, land, and naval forces and to provide support to allied coalition forces. PAR's MS group supports globally-deployed operational forces by providing reliable 24/7/365 support services for a variety of satellite communication systems. The company provides satellite control center operations and mission planning for DoD Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) operations. The company provides satellite ground system support, including operations and maintenance, sustainment, upgrades, communications security management, anomaly response/resolution, process improvement, emergency response and disaster recovery. The company experiences also includes mission planning and operations training. PAR's MS group provides comprehensive, dependable, and secure information systems support services to the DoD and other federal agencies. These services include information technology infrastructure library based, tier 0 to 3 service desk operations for thousands of users, network system administration, database administration, information assurance/system security, information security training, and government network management. The company also performs maintenance, monitoring, upgrades, planning, testing, and integration and configuration services, to include security systems, including intrusion detection systems. PAR's MS group supports critical information systems which operate elements of the DoDIN to support the National Command Authority (President and Joint Chiefs of Staff), DoD, and other federal agencies. The company's system troubleshooting and regulatory experts support the customer mission around the globe. Approximately 70% of the company's footprint is outside the continental U.S. with contracts in Europe, Middle East, Africa, Australia, and U.S. commonwealths and territories in the Pacific and Caribbean. PAR Government has strong and enduring relationships with a diverse set of customers throughout the DoD, IC, and other federal agencies. The company's track record of delivering mission critical services to government customers spans decades, and includes contracts continuing 20 years or more, with an average contract duration of three to five years. The company works closely with its customers, with many of its MS group employees co-located at customer sites. The company's strong relationships and on-site presence with its customers aides its efforts to develop substantive customer and technical domain knowledge, translate mission understanding into exemplary program execution, and create continued demand for PAR Government's services. Commercial Software PAR Government's commercial software business draws on decades of research and development (R&D), image processing and geospatial information systems (GIS) experience. Licensable software products focus on serving analysts and operators who seek highly accurate and timely information with both temporal and geospatial context. Product utility spans the modern battlefield from rear echelon analyst cell to the field operations center to tactical mobile devices and displays carried by infantryman at the very forward edge of a battlespace. The company offers three software products. The geospatial visualization (GV) image processing suite is used by the international defense and intelligence community to analyze still and video imagery. A second product line, Situation-X (Sit-X), provides cloud-native interconnectivity for mobile platform situational awareness solutions used by government and private organizations to manage rapid response teams or deployed field units. Customers include global geospatial software providers, NATO partners, public safety organizations, and select U.S. intelligence agencies. Third, the company offers GVStreamer software which enables real-time routing of video streams from a single camera source to multiple consumption endpoints and includes video management capabilities. Initiated to support livestreaming of unmanned aerial system (UAS) video to multiple end users (beyond a single control station), this capability also enables fixed video camera system relays and routing with minimized time delay for use in tactical applications. Finally, the company is a certified reseller of Samsung mobile devices running their tactical edition (TE) operating system. Markets and Competition The company's strategy is to build upon PAR Government segment's sustained performance on existing service contracts, coupled with investments in enhanced business development capabilities. The company is well positioned to realize continued renewals of expiring contracts and extensions of existing contracts, and to secure service and solution contracts in expanded areas within the DoD and other federal agencies. The company's highly relevant technical competencies, intellectual property, and investments in new technologies provide opportunities to offer systems integration, products, and highly specialized service solutions to the DoD, IC, and other federal agencies. Trademarks PAR, Brink POS, Punchh, MENU, Data Central, PAR Pay, PAR Payment Services and other trademarks identifying the company's products and services belong to it. History PAR Technology Corporation was founded in 1968. The company was incorporated in 1992.